Changes In The Medical Marijuana Industry That Business Owners Need To Know About At Tax Time

The state-legal marijuana industry has seen some important changes in 2015.

Even though the federal laws remain unchanged at tax time dispensary owners, growers, medible makers and everyone else in the places with a state-legal medical marijuana industry should be aware of these changes at tax time.

By law anyone who brings in $ 1 worth of business income must file a tax return with the IRS. That is when they get to subtract their business deductions. Marijuana business people are no exception. If your state has repealed medical prohibition, it is the politician's job to get unfair federal laws changed for their residents and businesses.

A change in those federal laws would save American taxpayers more than $ 13 billion every year. Time has proven marijuana is not a gateway drug, nor does it cause madness as movie producers once said it did to thrill their viewers. And if smoking a medicine is the problem, medical users where dispensaries are available have realized they can also vaporize, eat medibles, drink juice or other beverages, use tinctures, pills or sprays. Public consumption is down where medical marijuana clubs are available.

Every other small or large business is allowed deductions when they do their IRS federal return. Within the states where marijuana is legal for medical purposes there are businesses that deserve to be treated fairly. There are 23 states and the District of Columbia that now allow medical marijuana; those states collect taxes (or plan on collecting taxes) and put control in place for the prescription holder.

Before America's state-legal marijuana businessmen and women can compete fairly those federal laws must be repealed. A new federal ruling made in a San Francisco federal court blocks the DEA from prosecuting medical marijuana dispensaries if they are state-sanctioned. The Rohrabacher-Farr Amendment bars the Department of Justice (DOJ) from using federal funds to block state marijuana laws. This 1603-page federal spending report essentially brings an end to the use of the taxpayer's money to block marijuana's medical use.

Where medical marijuana is available legally, sustainable healthcare is up and overdoses on prescription pills is down. Marijuana has been claimed to be a super antibiotic, good for strokes and other brain problems, helpful to alleviate pain, nausea, Parkinson, inflammatory bowel disease, PTSD, epilepsy and other seizures, kill cancer and Forbes magazine even asked if your aging parent should try it.

Dr. Sanjay Gupta has said we should legalize medical marijuana now. This a plant that was once listed in the US Pharmacopeia and readily available in drug stores. With its use people have walked out of hospices and hospitals to live fuller lives. The US federal government has even owned patent # 6630507 since 2003 for its use as an antioxidant and neuroprotectant.

The DOJ issued a memo that allows Indian tribes to grow and sell marijuana on their land. Other countries and people are also rushing to end its medical prohibition; for example Israel uses marijuana in their hospitals and for research. Many senators and governors want it legalized for medical use once again.

The IRS Advisory Code Report says marijuana businesses are now legal in some states, but still illegal under federal law. Marijuana businesses are not allowed to deduct all of their expenses because the federal government says no deduction or credit shall be allowed for any amount paid or incurred if such trade or business (or the activities of the trade or business) consists of trafficking in a controlled substance. Marijuana according to federal laws is a controlled substance with no medical use; yet the federal government holds a patent for medical use.

Those who want to keep medical marijuana illegal are mostly getting rich off of it being an illegal substance, although many pay no taxes on the money they earn. This includes the corrupt, illegal growers, dealers, trimmers and medible makers, people receiving taxpayer assistance checks but working in this trade, and those who want to keep marijuana on the black market. They don't care what the citizens want, how they voted, or whether or not it helps a person's medical condition, as long as they make money.

Medical marijuana users and business owners in the states where the citizens have voted to make marijuana's use legal once again need to have regular meetings with their state politicians to discuss the unfair taxation problems. The people have spoken, now it's the politician's turn to get those laws changed.

10 Steps to Get a Medical Marijuana ID Card

In July 2015, the total number of states that legalized the use of medical marijuana was 23. If you live in one of the states, you may try out this alternative therapy system. To avail it, you can follow the following simple steps. They will help you get your medical marijuana ID card without any problems. Read on.

Understand the Guidelines

First of all, you should find out if you can use the therapy for your condition. Actually, the herb is used for a number of conditions, including mental and physical problems. However, the thing is that your state may or may not consider you a qualified patient for the card. So, you have find out if you qualify.

Know your limits

Secondly, you should assess your limits. In each state, there is a limit for the amount of marijuana a qualified individual can keep or grow. Therefore, if you want to be on the safe side, we suggest that you know your limits.

Reciprocity agreements

You should read up on the reciprocity agreements. Actually, your card will be valid in a state provided the state accepts your national ID card.

Applying for a Card

Look for a doctor. If you want to get an ID card issued by your state, you should look for a licensed doctor. The doctor can give written recommendations so you can get your card without any problem.

Write an application

Although some states let you enjoy certain benefits based on the recommendation of your doctor, most states require that you write an application to your state for approval.

Payments

Of course, you will have to pay a fee if you want to get a medical marijuana card. Usually, you may want to bear the administrative fees as well. In some states, you will have to pay fewer fees especially if you get Medicaid benefits, supplemental income or you have some kind of social security disability. If you want to know the exact fees, we suggest that you check the guidelines in your area.

Securing Your ID Card

You should provide proof of your residence and identity. Actually, what you need to do is prove that you live in the state where you are applying for the card. So, if you apply for the card, you will need to give the proof of your identity and residence.

Wait for the card

You should wait for the card. As soon as you have applied, you should give the state a couple of weeks to review your application and give approval. As soon as the approval is made, you should wait for a bit to receive your card.

After receiving the card

Find out how you can get the herb. As soon as you have got your card, the law allows you to get and use the herb for treating your condition.

Dealing with the issues

Although the majority of patients is able to get the card without any issues, you may have legal problems from time to time. If you want to get ready, make sure you know what issues you may encounter and how you can deal with them.

So, these are a few tips that you can use to get your medical marijuana card.

Is Legal Marijuana Bigger Than The Internet of Things?

The greatest innovation in history –

Nothing on Earth today (and I mean nothing at all), not smartphones, automotives, aerospace, real estate, gold, oil, software, biotechnology, nothing … is growing as much or as fast as the market for legal marijuana.

Consider this: By 2020, the market for legal marijuana will top $ 22.8 billion (not million, but billion with a B). The legal market for cannabis "could be bigger than the National Football League, which saw $ 12 billion of revenue in 2015. Between 2016 and 2029, the projected growth of marijuana is expected to reach $ 100 billion – 1,308% growth.

Estimates place the number of some time marijuana users in the neighborhood of 50 million people. As many as 7.6 million indulge on a daily basis. Out of the 83.3 million milllennials, fully 68% of them want cannabis to be legal and available. Once legalization takes hold everywhere, dozens of already established firms – in the tobacco industry … in agriculture and irrigation … in pharmacueticals – are going to want to jump in without hesitation. And if you want more proof that marijuana is going mainstream, consider this …

On Nov 8th, tens of millions of Americans in nine states headed to the polls and voted on the future of marijuana. California, Massachusetts, Maine and Nevada voted to legalize the recreational use of marijuana. And voters in Arkansas, Florida, North Dakota and Montana passed ballot initiatives legalizing medical marijuana. Only Arizona, where recreational cannabis was up for a vote, decided against legalization. Together, these states (excluding Arizona) represent a total population of 75 million people. That means one in five Americans – 20% of us – woke up on Aug 9th finding themselves in a state where medical and / or recreational marijuana is legal for adults 21 and over.

Even Hollywood celebrities are getting into the act. Many folks already know about the weed-related business activities of Snoop Dog, country music legend Willie Nelson and actor and comedian Tommy Chong. Fewer know that Grammy Award winning singer Melissa Etheridge is developing her own line of cannabis-infused wine and TV talk show host Whoopi Goldberg is launching a line of medical marijuana products aimed at women. And people listen to Hollywood icons. Nothing is more mainstream than the TV sitcom.

On July 13th in 2016, Variety revealed that Netflix is ​​planning to air a sitcom set inside a legal pot dispensary. Called DisJointed, the show is the brainchild of TV genius Chuck Lorre, creator of such mainstream blockbusters as the Big Bang Theory and Two and a Half Men. A recent poll by Quinnipiac University found that 89 percent of voters in the United States believe that adults should be allowed legal access to medical marijuana when a doctor prescribes it. And the USA is not the only country poised to loosen the reins on marijuana. Israel, Canada, Spain, Mexico, Australia, Uruguay, Jamaica, Germany and Columbia have either legalized or decriminalized possession.

Since 1972, marijuana has been classified as a Schedule 1 controlled substance. Schedule 1 drugs are those considered to lack medical use and present a high potential for abuse. As a Schedule 1 drug, marijuana gets grouped alongside heroin, LSD, and ecstasy. But in the face of mounting pressure from the doctors, medical researchers, state governments and Congress, the Drug Enforcement Agency (DEA) have come under pressure to downgrade marijuana to a Schedule II drug, or maybe even a Schedule III.

According to the US Census Bureau, by 2030 one fifth of the population – 72 million Americans – will be 65 or older. Those Baby Boomers will all confront a slew of age-related ailments, such as glaucoma, cancer, arthritis and back pain. As it happens, cannabis-based remedies are uniquely suited to treating those diseases. So, as the elderly population grows, so will the size of the medical marijuana market. Social acceptance of cannabis will grow as well, as millions of people discover the benefits of medical marijuana for themselves.

A single marijuana dispensary could bring in more than $ 676 million a year. Not all of that cash comes from weed itself. Most folks have already heard about things like "pot brownies." But the market for marijuana "edibles" goes for beyond that. There are weed desserts and weed energy drinks. In fact, we're even about to see the opening of the world's first weed distillery.

For people averse to inhaling smoke, there are sites that offer THC-laden capsules, lip balms, hash bath oils, topical compound, and even THC patches that provide "accurate dosing … a quick onset and unsurpassed duration." Thirsty users can enjoy THC-infused coffees, sodas, and sparkling waters. Aside from the market boom in recreational cannabis, medicinal marijuana and derivatives have also been seeing brisk growth, and for good reason.

Cancer patients undergoing chemotherapy and radiation usually lose their appetite and have sensitive stomachs. But if they don't eat, the treatments aren't as effective. Cannabis has been proven to help stimulate the appetite and settle the stomach. There is also new work being done with cannabis oil that shows promise treating epilepsy, multiple sclerosis, some cancers, and even rheumatoid arthritis. The oil is also effective for insomnia.

For most of the 20th century, doctors knew little about the working of out most important organ, the human brain. Brain cells dictate almost one of our sensations, thoughts, and actions sending signals that trigger appetite and hunger. Marijuana seems to bridge the gap. The voters in state after start are quickly coming to an agreement that cannabis is in fact medicine. Momentum is only going in one direction.

Get Benefits of Medical Marijuana For A Healthy Life

Medical marijuana is the name given to the cannabis and cannabinoids that are recommended by doctors for the treatment of numerous conditions or ailments. And if you are not treating any of your conditions or ailments with it, it won’t be termed as medical marijuana. It is widely used all over the world under legal framework for various medical purposes.

The marijuana plant contains hundreds of cannabinoids and each of them has a different effect on the patient’s body. With the latest researches that count for the health benefits of marijuana, its popularity has gained over the stigmas linked to weed. Being in New York, you can only use medical marijuana if you are suffering from some particular diseases under the legal framework.

The diseases that can be treated with medical marijuana in New York include Epilepsy and Seizures, Asthma, HIV/AIDS, and Alzheimer’s. It is advised for any patient to use medical marijuana safely in accordance with the physician’s prescription. In the nutshell, if medical marijuana is taken properly, it can prove to be a lot of beneficial to the user’s body.

Benefits of Medical Marijuana There are countless benefits of marijuana that make it a recommended dose for the patients suffering from various ailments or disorders.

1. It can cure many diseases. Medical marijuana is known for curing many diseases and physical problems. It can control epileptic seizures, fight Glaucoma, slow Alzheimer’s, help in preventing cancer from spreading, reduce Hepatitis C side-effects, treat inflammatory bowels, relieve arthritis pain, ease multiple sclerosis pain, help you get through chemo and much more.

2. It can help in losing weight. It regulates insulin production in one’s body and helps in managing the daily intake of calories more efficiently. You also might have noticed that people who consume weed are slimmer than the ones who don’t. Moreover, it also improves the body metabolism of the patient.

3. It can reduce anxiety and depression. A study has shown that medical marijuana can improve the user’s mood to a great extent and can even act as a mild sedative. It can easily kick out anxiety and depression out of patient’s mind.

4. It is the best alternative to dangerous addictions. It has been found that it easier to get attracted towards marijuana from all other types of lethal drug addictions. In other words, it can save many lives that are prone to other hard drugs.

5. It helps the user in improving focus. Medical marijuana helps people in focusing on their job and increases their mental creativity. It might not have proved to be helpful in improving short-term memory, but it does prove to be helpful in performing well at tests and makes you smarter.

6. It reverses the negative impact of smoking tobacco on your lungs. It doesn’t have any harmful effect on the user’s lungs. Instead of this, it eliminates the effects of tobacco smoking provided you have quit it.

7. It is a good choice for relaxation. It is a good option for people who suffer from Post Traumatic Stress Disorder (PTSD). It can actually work on relieving the stress that is associated with PTSD.

More Baby Boomers Trying to Find Bliss With Marijuana

Recently, when I've attended concerts that tend to attract baby boomers, such as Paul McCartney and The Rolling Stones, I've noticed a lot of boomers lighting up joints.

Turns out that's no coincidence.

According to a recent report in the journal Drug and Alcohol Dependence, more baby boomers are using weed and other cannabis products.

Nine percent of people aged 50 to 64 said they've used marijuana in the past year, doubling in the past decade, while three percent of those over 65 have done so, the research found.

Perhaps that's not a big surprise, since the baby boomer generation has had more experience than other generations with marijuana, which surged in popularity during the 1960s and 1970s. More than half (almost 55%) of middle-age adults have used marijuana at some point in their lives, while over a fifth (about 22%) of older adults have done so, according to the study.

Those who used marijuana as teens were more likely to say they were still fans of the herb, the team at New York University found.

What accounts for marijuana's big comeback with the older crowd?

Certainly, the stigma of using marijuana has decreased. I never used but, admittedly, weed was considered cool when I was in high school during the 70s. However, we made fun of "potheads" who smoked constantly and came to school fumbling around like fools in a fog bank. That seems to have changed in recent years with some boomers considering it cool to act like teenagers again and claiming the title, pothead, with pride, as if smoking marijuana was some kind of accomplishment.

Access has certainly been made easier with the legalization of marijuana for medical use in 29 states and DC and for recreational use in eight states and dc, including here in california where i live. Pot farms are springing up everywhere including one of the nearby desert towns, Desert Hot Springs, which has been nicknamed Desert Pot Springs.

Some baby boomers use weed to ease aching joints or other ailments or to help them sleep.

Whatever the reasons for boomers lighting up, beware, there are some definite pitfalls. The survey indicated that users think marijuana is harmless. But the researchers were quick to point out that is clearly not the case.

"Acute adverse effects of marijuana use can include anxiety, dry mouth, tachycardia (racing heart rate), high blood pressure, palpitations, wheezing, confusion, and dizziness," they warned. "Chronic use can lead to chronic respiratory conditions, depression, impaired memory, and reduced bone density."

Researchers also reported that baby boomers using cannabis were more likely to smoke, drink alcohol, and abuse drugs. Marijuana users were also more likely to misuse prescription drugs such as opioids, sedatives, and tranquilizers than their peers.

Mixing substances is particularly dangerous for older adults with chronic diseases, the team advised. Marijuana may intensify symptoms and interact with prescribed medications.

In fact, physicians should ask older patients about whether they use marijuana because it can interact with prescription drugs, the team recommended, and it may point to substance abuse problems.

In other words, baby boomers would do well to find true bliss in healthier ways.

Marijuana Laws in Michigan

There are quite a few criminal laws on the books in Michigan that deal with Marijuana. This article will go over these laws and identify the maximum incarceration time and fines a person can face for these criminal charges. This article will also cover and explain the 7411 deferral program that is available to people charged with possession and use of marijuana.

Possession of marijuana in Michigan is a misdemeanor that is punishable by one year in jail and a maximum fine of $ 2,000 dollars. Possession of Marijuana in a park is a felony punishable by up to two years in prison and a fine of $ 2,000. Use of Marijuana is a misdemeanor punishable by 90 days in jail and a $ 100 fine. Unless someone has a very bad criminal record or a lot of prior marijuana convictions on their record, the odds of the person getting any jail time for either of these charges are slim.

Regarding the unlawful sale of marijuana in Michigan, a person who is caught trying to sell less than 5 kg of marijuana in Michigan is guilty of a felony where the maximum punishment is 4 years in prison and a $ 20,000 fine. Sale of marijuana of 5 to 45 kg is a felony punishable by seven years in prison and a $ 500,000 fine. Sale of marijuana over 45 kg is a felony punishable by 15 years in prison and a $ 10,000,000 fine.

Cultivation of less than 20 marijuana plants is a felony punishable by up to 4 years in prison with a $ 20,000. Cultivation of 20 to 200 plants is a felony punishable by up to 7 years in prison with a $ 500,000 fine. If someone is caught cultivating 200 plants or more, the maximum punishment is 15 years in prison with a $ 10,000,000 fine.

7411 is a diversion program available to people who are charged with possessing of marijuana and some other drug possession charges in Michigan. If a person has no prior drug offenses, their defense attorney maybe able to get the prosecutor and court to agree to allowing the defendant to plea guilty to certain drug possession charges under 7411.

7411 is a deferral, which means, that a person reaches an arrangement with the court to plead guilty to a drug possession charge if the court agrees to keep the charge and plea secret. The judge at sentencing will tell the person how long they will be on probation and the case will be dismissed and there will be no public record of it if they successfully complete probation.

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